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Haas Make Acquistion: Company Buys Texas
Management Firm

— By Gretchen Metz Staff Writer Printed on 10/16/02 of the West Chester Daily Local News
WESTTOWN - Thaddeus Fortin sighs when he’s asked, what do you do for a living? This is a complicated answer, according to Fortin, chief executive at Haas Corp., which acquired the total chemical management business of Radian International LLC of Austin, Texas on Oct. 1 for an undisclosed amount. The combined company operates as Haas TCM.

Unfortunately for Fortin, “what do you do” is the usual question when, for instance, a stranger sits next to him on an airliner.

“Then I hope it’s a long flight,” says Fortin, who took over the front office at the chemical services management company from his father, John J. Fortin, in 1996.

The 43-year-old Fortin explains the business like this: Haas TCM operates like a general contractor.

General contractors hire subcontractors like plumbers, electricians and carpenters to build homes and businesses.

Haas TCM’s clients- General Motors, Ford, Daimler-Chrysler, Boeing, Raytheon, Southwest Airlines and disc-drive maker Seagate Technologies - outsource chemical management duties to Haas. Haas in turn, hires subcontractors to take care of its clients’ chemical procurement, management, safety, reporting and waste management services.

Interestingly, Haas TCM competitors - Henkel of Germany, Castrol Oil and Quaker Chemical - are also Haas subcontractors.

Fortin expects the new combined company to post annual revenues of $100 million this year and up to $125 million by 2003. Haas TCM employs 250 workers, mostly on-site at clients’ locations. About 30 employees work at the Haas TCM’s Westtown offices where the company has been headquartered for four years.

The acquisition took three years to complete.

Totally integrating the two companies is estimated to take 12-15 months. There will be no layoffs says Fortin, of Thornbury, Chester County. The administration of Radian’s total chemical management business was handled at the Radian corporate level so there is no redundancy of corporate officers.

“We feel incredibly excited,” Fortin said about the acquisition. “When you’re working on something for three years and your successful…”

The acquisition expands Haas on several fronts.

Haas, a chemical management service provider principally in the automotive industry, will now add Radian’s aerospace and defense clients to its roster.

Also, Radian used Web-based technology for business transactions. Rather than investing capital to upgrade to Web-based transactions, Haas can now build on the technology that came with the acquisition, Fortin said.

Fortin plans to grow Haas TCM by acquisition but stay privately held. Fortin is currently looking at acquiring companies in the semiconductor industry and an international conglomerate.

“A few are on our radar screen but nothing’s going to happen in 2003,” Fortin said. “The only barrier is getting good, qualified people and retaining them.”

Fortin’s father bought the business in 1975. At the time the company was a manufacturer and distributor of metal treatment chemicals.

The industry changes by the late 1980s. By then, customers wanted to outsource chemical management and Haas was invited to take on chemical management work at auto plants, in addition to supplying chemicals.

Today, Haas TCM has 120 customers served in the United States, Canada, Mexico, China, Argentina and Brazil. Offices are planned for Ireland, Germany and South Korea in 2002.

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chemical strategies partnership

What is Chemical Management Services? Chemical Management Services (CMS) is a business in which a customer engages with a service provider in a strategic, long-term contract to supply and manage the customer's chemicals and related services... more »

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Haas TCM Provides Total Chemical Management Services To Raytheon Corporation
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